In a deal that may be valued at $1.8-2 billion, Makemytrip will acquire rival ibibo in what has been pegged as the biggest acquisition in India’s online travel space. Here are ten things to know about the all-stock deal between two of India’s largest travel booking portals: 1. The combined…
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Indian PV manufacturing figures released, reports of US$3.1 bn government aid
India’s installed cell and module manufacturing capacity has reached 1,468MW and 5,848MW respectively as of 30 June 2016, according to figures released by the Ministry of New and Renewable Energy (MNRE). The figures are up around 250MW each since April this year when cell and module manufacturing…
Freshdesk buys ex-Google execs’ AI-based social chat platform Chatimity
Chennai-based cloud-based customer engagement software provider Freshdesk has acquired Chatimity, a social chat platform that developed artificial intelligence (AI) and chatbot technology. Cost of acquisition was not disclosed. Chatimity was built to enable user interactions and improve engagemen…
eGrocer Satvacart secures third round of funding
At a time when eGrocers, both big and small are shutting shop due to non-availability of funds, extreme cash burns due to deep discounting and flawed business models, eGrocery retailer Satvacart said that it has managed to close third round of angel entrepreneur and investor Nimit Panigrahi joini…
Global network of accelerators look to cash in on India’s fintech goldrush
BENGALURU: Accelerators and incubators specialising on financial technology startups are increasingly coming to India, with 2016 witnessing the launch of several of them, from Startupbootcamp’s local edition and a Swiss Re programme to Zone Startups and Rainmatter. They expect to see global produ…
Eye on start-ups: IIMB has cutting-edge lessons in entrepreneurship for company founders
Rajiv Srivatsa, Co-Founder and Chief Operating Officer of online furniture retailer Urban Ladder, holds an MBA degree from the prestigious Indian Institute of Management Bangalore. Part of the institute’s 2002-2004 batch of approximately 200 students, Srivatsa was awarded the gold medal as the be…
World is waiting for us, we are not small anymore: PM at National MSME Awards
Small is turning big! It was evident when Prime Minister Narendra Modi gave away National MSME Awards to 227 industrialists from across the country in Ludhiana, on 18 October. Modi also launched the two most awaited schemes, National SC/ST hub and Zero Defect Zero Effect (ZED). Earlier, Modi reac…
Moradabad Brassware Industry needs basic framework to maintain sector’s growth
Moradabad, situated on banks of the Ramganga river, is known for its brass handicraft across the world. The city, was established in 1625 A.D. by Rustam Khan and named after Prince Murad Baksh- the son of the Mughal Emperor Shah Jahan. Brass industry is believed to have originated from here only …
An engineering graduate has been making Khadi jeans long before Baba Ramdev’s ‘Swadeshi jeans’
With Yoga Guru Baba Ramdev recently announcing his plan to launch ‘Swadeshi jeans’ to take on multinational corporations, desi jeans enthusiasts may have to wait at least another year before the product actually hits the shelves. If you are not willing to wait, you can try ‘Desi…
Nearly 75% govt banks miss MSME loan growth target
NEW DELHI: Despite the NDA governments push on improving credit to the micro, small and medium enterprises (MSMEs) in the country, only seven out of India’s 27 state-owned banks have achieved the loan growth target for the sector. The Finance Ministry had asked banks to register a 10% annual grow…